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Sold on 08/17/2019

202 Overlook Dr, Spruce Pine, NC 28777

$1,874,898

Last sold 08/17/2019 for $1.15M

  • 26

    bed

  • 24

    bath

  • 12,000

    Sqft ($96/Sqft)

Multi-family not for sale
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About 202 Overlook Dr

Property type Multi-family
Year built 2005
HOA fee $0/month
Lot size 1.52 Acre
Movoto estimate
Property description
Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.
Listed by
Listing Agent - Peter Franklin
Listing Agent Contact: Wncbuyersagent@gmail.com
Listing Office - Foxfire Real Estate, LLC
Source: Canopy MLS mls logo
MLS#3473220 • last updated 5 years ago
Movoto checked Canopy MLS for data 1 hour ago
Overview
Heating Central
SubType Apartment
MLS # 3473220
Status Closed
SqFt 12000
Lot Size (Acres) 1.52
Lot Size (SqFt) 66211
Interior
# Full Baths 24
Total # of Bedrooms 26
Laundry Main Level
Flooring Carpet, Vinyl
Interior Features Cable Prewire
Exterior
Foundation Crawl Space
Roof Shingle
Construction Site Built, Vinyl
# Parking Spaces 30
Parking (Parking Spaces: 2), Parking Lot, Parking Space(s)
# Open Parking Spaces 2
Lot Desc Green Area, Level, Open Lot, Paved, Sloped, Views
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source City
Utilities Cable Available
Location
View City, Long Range, Mountain(s), Year Round
County Mitchell
Middle School Harris
Elementary School Greenlee Primary
High School Mitchell
APN 0799-06-39-7324
Multifamily Details
Owner Pays Sewer, Water
Total # of Units 12
Lot/ Land Details
Road Responsibility Publicly Maintained Road
$1.87M
Range: $1.68M-$2.06M
Last 30 days 
Powered By Movoto
  • Apr 2021
    MLS # 3473220
  • Apr 2, 2021 Sold
    $1,150,000
  • Feb 8, 2019 Listed
    $1,250,000
  • Aug 2019
    Public Records
  • Aug 16, 2019 Sold
    $1,150,000 (-8.0%)
  • Mar 2019
    MLS # 3473447
  • Mar 4, 2019 Under Contract-No Show
    —
  • Feb 10, 2019 Listed
    $1,250,000
  • Year Property taxes Tax assessment
  • 2024
    $7,704
    $1,375,700
  • 2023
    $7,704
    $1,375,700
  • 2022
    $7,704 +56.4%
    $1,375,700 +62.02%
  • 2021
    $4,925
    $849,100
  • 2020
    $4,925
    $849,100
  • 2019
    $4,925
    $849,100
  • 2018
    $4,925
    $849,100
  • 202 Overlook Dr
    $1.15M
  • —
  • 28777
    $360K +2% y/y
  • Spruce Pine
    $360K 0% y/y
No chart available
Statistics calculated by Movoto

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6/10
Deyton Elementary
public Grades 3-5
Mitchell County School District
N/A
Greenlee Primary
public Grades K-2
Mitchell County School District
3/10
Harris Middle
public Grades 6-8
Mitchell County School District
3/10
Mitchell High
public Grades 9-12
Mitchell County School District
Source: GreatSchools.org © 2026. All rights reserved.

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